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Intel’s Saffron AI targets anti-fraud, promises explainable system

Two weeks ago, Intel announced the launch of its Saffron Anti-Money Laundering (AML) Advisor service, based on software it acquired with Saffron, and running on top of its Xeon CPU hardware. Promising an unsupervised machine-learning capability, Intel has signed the Bank of New Zealand (BNZ) as the first customer for the system, which will hunt for signs of fraud and money laundering, in a notable win for Intel. The key to the new approach is Associative Memory, which Intel says will find and explain ‘multidimensional patterns’ inside bank or insurance data. That data is often rather unstructured, which has been the stumbling block for automated systems in the past. Thanks to the new approach, Intel says that the Saffron AML…

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